Author: Imali-admin

Post Office insists it is on track to meet grants deadline

The South African Post Office (Sapo) says it is on track to pay social grants on behalf of the South African Social Security Agency (Sassa) by April 1 2018. An agreement was signed between Sassa and Sapo late in 2017 which will see the latter providing electronic banking services, including corporate control accounts, special disbursement accounts, on-boarding of new beneficiaries, and the biometric authentication of beneficiaries. In 2014, the Constitutional Court ruled that the contract Sassa signed with Cash Paymasters Services (CPS) in 2012 was illegal and invalid. In 2017, the Court suspended its order until March 31 2018,...

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Bank of Baroda to withdraw from SA

The Reserve Bank announced on Monday that the Bank of Baroda had notified the Office of the Registrar of Banks of its exit from SA. “The registrar, which is part of the South African Reserve Bank (SARB), is in discussions with the Bank of Baroda to ensure its orderly withdrawal from SA so that no depositor is disadvantaged. At this stage, the SARB has no further comments on the matter,” the Bank said in a statement. The Bank of Baroda is India’s second-largest bank. Its South African office had provided banking services to the Gupta brothers, including claims of...

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SARS gets heavy-handed with taxpayers over debts

Taxpayers are getting legal threats when they still have objections pending. The Tax Ombud says as this is a systemic issue, taxpayers can go straight to the ombud Several taxpayers have received threats from the South African Revenue Service (SARS) that they are facing legal action because their tax payments are in arrears. However, it appears many of these taxpayers have filed objections to the assessments issued by SARS. The objections were also accompanied by applications for the suspension of payment until the disputes were settled. SARS acting spokesman Sicelo Mkosi says once a suspension has been applied for,...

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New banknotes to honour Madiba’s centenary

As the commemoration to mark the 28th anniversary of the release from prison of Former President Nelson Mandela continued on Sunday, the South African Reserve Bank (SARB) has announced that it will issue a set of commemorative banknotes to honour the former statesman’s centenary. Mandela would have turned 100 years this year. Events have been planned to celebrate his centenary. “The South African Reserve Bank will this year launch a set of commemorative South African banknotes in honour of what would have been Nelson Mandela’s centenary. These notes will cover all denominations – R10, R20, R50, R100 and R200”...

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the app that can bring you up to speed on SA’s tax laws

An app has just launched locally could prove to be a real asset for businesses, accountants, lawyers and even students interested in South African tax law. The app, which is called hApp-e-tax, is available on tablets and smartphones and has been designed to make information about South Africa’s tax legislation easily accessible. Developed by local tax consultant Herschel Alpert, hApp-e-tax includes the Income Tax Act, the Tax Administration Act, interpretation and practice notes, a comprehensive definitions list and space for notes and folders. “I know only too well the issues faced by South African tax professionals in getting tax information fast,” Alpert...

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